Wells Fargo upgraded Extra Space Storage (EXR) to Overweight from Equal Weight with an unchanged price target of $160. The firm is “modestly more constructive” on self-storage real estate investment trusts following the Q2 reports due to “modest” buy-side expectations into 2026 and “achievable” 2025 outlooks. Wells upgraded Extra Space Storage, naming the company its top idea across storage. The stock’s relative risk/reward is most favorable following the year-to-date underperformance, the analyst tells investors in a research note.
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